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An enchanting hilltop custom estate greeted by
winding driveway and fully landscaped with brand new
pool/spa and waterfalls (spring 2008), vineyard, bocce
ball, built in BBQ & fire pit. Gourmet kitchen is chef's
dream. Great home for entertaining inside and out.
Pad poured for second structure - could be guest
casita, office, additional garages.
CALL KIA FOR ADDITIONAL INFO 916-782-0558 |
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"The market is now being driven by three
different factors affecting three separate price ranges,"
said Michael Lyon, CEO of Lyon Real
Estate. "Homes
under $300,000 - especially foreclosure homes -
are
selling in a matter of hours with multiple bid and in
under three months. Then we have homes above
$300,000 and under $580,000 that are not in
foreclosure but have low interest, low-down FHA
programs to finance the sale and have inventory levels
of under six months - this market segment is much
better than it has been in the last two years. Finally we
have those homes for sale in the non-conforming
loan
or Jumbo bracket, and inventory levels of around
20
months. With down payment requirements of
between 20 to 30%, even if priced right, it can take two
to three times longer to sell a home in this price-
bracket than those homes priced under $580,000."
"The good news in all of this lies in the rate of absorption for the foreclosure properties. If sustained, it will mitigate the effects of the 15,000 foreclosure homes still expected to come on the market this year. Many people who never dreamed of owning a home now have a chance, at least until the end of this year when these FHA programs sunset. There is also a sustained reduction in overall inventory as many realize that the market will continue like this for several years to come unless we see further government intervention. "As for general trends, it is still the case that the closer homes are to major job centers the better they have done to retain or even gain values. However, a new trend by banks and home owners struggling to price their homes is the use of appraisers in addition to broker market opinions. Banks are even asking for and getting a second appraisal just days before close of escrow." TRENDGRAPHIX's latest report shows that sales increased 28% during the month of April for the Tri-County region of Sacramento, Placer and El Dorado Counties. April 2008 sales were 40% higher than April 2007 sales. Pending sales increased by 30% from March to April 2008. April 2008 inventory of 11,756 homes for sale is % lower than April 2007 inventory. This is a 23% decrease for the regional inventory record high of 15,302 set in August 2007. COUNTY HIGHS AND LOWS FROM MARCH TO APRIL 2008 Sacramento County Sales increased by 31% Inventory decreased 6% Pending sales increased by 32% 36% of the homes sold for < $200,000 54% of the homes sold for between $200,000 & $400,000 10% of the homes sold for > $400,000 The average $/sq ft decreased 3% to $151 Placer County sales increased by 14% Inventory decreased by 3% Pending sales increased by 19% 3% of the homes sold for <$200,000 60% of the homes sold for between $200,000 and $400,000 37% of the homes sold for > $400,000 The average $/sq ft remained the same at $178 El Dorado County Sales increased 29% Inventory increased by 4% Pending sales increased by 25% 9% of the homes sold for < $200,000 42% of the homes sold for between $200,000 & $400,000 49% of the homes sold for > $400,000 The average $/sq ft increased 3% to $198 Info from Michael Lyon, CEO Trendgraphix |
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FOR A FREE MARKET ANALYSIS OF YOUR HOME AND ESTIMATE OF VALUE CALL OR EMAIL ME! I WILL GET YOU THE INFO WITHIN 24 HOURS OF YOUR REQUEST. Please contact me with all of your real estate needs and questions. I am always available to you, your family and friends!
Happy Father's Day,
Kia Kapci
Lyon Real Estate
email:
kkapci@golyon.com
phone:
916-782-0558
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